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Do you have money saved?

Do you save money?

  • I save money

    Votes: 55 80.9%
  • I don't save money

    Votes: 13 19.1%

  • Total voters
    68

3step

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According to new studies released recently, roughly a third of American adults don't have any emergency savings. As for me, usually I put 20% of my income into my deposite account and I have some cash for a rainy day saved at home. Do you have savings for emergency case or maybe for retirement? What part of your income do you save?
 

Jerry

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According to new studies released recently, roughly a third of American adults don't have any emergency savings. As for me, usually I put 20% of my income into my deposite account and I have some cash for a rainy day saved at home. Do you have savings for emergency case or maybe for retirement? What part of your income do you save?
Insane overtime. That's what I do, and it works. I'm usualy on overtime by Wednesday morning.
 

UtahBill

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If you have high equity in your home, you have emergency savings. Home equity loans are a great source for emergency savings, as long as the emergency isn't a fancy car, a boat, or any other large purchase of something you don't need.
 

Thrilla

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i'm old and there's no need for me to save any longer.... but yes, I've saved all my life... it's part of my whole "provident living" thing
 

Declan

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I have some stocks that can be cashed in in a matter of 4 business days and wired into my account; I have close to 60% equity in my house (thanks to a fantastic deal on a foreclosed property even as far as foreclosed property goes); I get an annuity check every month that covers the mortgage; and two rent checks every month that covers most of the other household recurrent expenses like utilities/telephone/internet. I do have a saving account with about $1K in it and I pool money into my business accounts until the end of the year because my income is rather seasonal with those. I do not subscribe to the philosophy that people should have a lot of cash on hand though because that is wasted money given today's interest environment. Money should be invested, not saved, unless you want to be a wage slave all your life.
 

beefheart

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I keep one year of salary saved in the bank, and put 11% in 401(k). Always save for a rainy day, because they happen. Have more than 50% of house paid off and am paying it off about 20 yeas early. I hate debt.
 

Cardinal

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Yes, I have a couple years of rainy day funds saved up. Retirement's another matter, and I'm saving money far too slowly for that. It's a little concerning.
 
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soot

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Yes.

IRAs, 401(k)s, savings account, money market account, 529s for the boys.

We save about 25% to 35% of household income depending on the month.

We have about 6 months income available at the moment.

We burned through about 6 months worth over the past year as my wife lost her job once due to downsizing and once due to her employer going Chapter 11 and my being on disability at 70% salary for 2 months following back surgery.
 

Montecresto

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My dad's been saving for my retirement all his life. Should be inheriting that soon.
 

Nilly

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I'm lucky enough to be in a position to save (Roth IRA, andemergency fund first then a split into money for a house down payment and an online brokerage account) but the vast majority of my friends live paycheck to paycheck. I don't imagine many of them have an emergency fund that lasts more than one month. The typical emergency fallback would be move back in with parents, which I know people as old as 29 to have done.
 
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Jerry

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So you put in 20 hr days?
12-14hr days. Sun+Mon+Tues= 36 to 42hrs, so by Wednesday morning I'm either about to cross into OT or have just crossed into it. My hours cap is 70 so that means I usually take Saturday off.
 

radcen

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I love threads like this. Most Americans* don't save, but everybody on the internet does. :lol:

*- Have seen estimates ranging from 1/3 to 2/3.
 

DVSentinel

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I have a 92 year old grandmother (soon to be 93) who lives 1200+ miles away, hell yes I have money put back.
 

PoS

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I have no liabilities so I pretty much save most of my earnings because cost of living where I am is also insanely low- my biggest expense right now is food. :mrgreen:
 

Unrepresented

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I've prioritized retirement saving over "emergency" savings.

It's not an ideal solution, but I'd rather take advantage of compound interest when the compounding's good.
 

Medusa

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I dont save because I dont know whether I may live a long life or not .I am trying to have fun and spend what I have earned
 

Dirt Racer

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I have a couple houses that are putting money into my savings. One is paid off and one will be in two years. Both bring in $650 per month but one has a mortgage of $250.00 per month. We are using all of the money we make on those two houses to fund our retirement. We also both have IRA's. I keep about $20,000 cash for some type of emergency or if a good buy comes up that may be too good to pass up.

Our income from work goes to pay bills and pay off our home quicker. So none of our income right now goes to savings except what funds our IRA's
 

Gathomas88

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Yes. I'm finally making a high enough wage, and working enough hours, to have a little bit of a surplus left over by the time my next pay day comes around. You'd better believe that I'm squirreling away as much as I can.
 

FreedomFromAll

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Speaking of rainy days and the need for emergency monies: I was on my way to a fantastic retirement fund, then I had to fight cancer and after that take care of my Mom, I started over, fun fun.
 

Korimyr the Rat

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No savings. No assets. No income.

I'll start saving money when I start having some coming in.
 

Baralis

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I save when I am able. My life has been full of ups and down, financial successes and disasters. When times are good I save all I can and that has carried me threw many bad times. Unfortunately it often left me with little in the end but I personally never viewed money as the end all to life. Right now Im twenty some years out from normal retirement age without a nickel saved but the thought of working the rest of my life, health permitting, doesn't bother me. I would rather enjoy life along the way than to miss out on opportunities so that I might have more when Im to old to really enjoy it.
 

Ockham

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Yes, I've been saving since I got into the private sector. Retirement, 401K, stock funds - I think I had 16% taken out of my paycheck and only in the last 5 years reduced it to 11%. My life span is probably going to be somewhere in the 70's so I got a good 17 years left to work and then I should be able to live the rest the way I'm accustomed to live and then leave the rest to the wife or whomever is left. Probably need to think about setting up a pre-tax private trust once I'm ready to retire.
 

UtahBill

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Yes, I have a couple years of rainy day funds saved up. Retirement's another matter, and I'm saving money far too slowly for that. It's a little concerning.
Marry a career girl.....
mine started teaching school as soon as the youngest started school...
 
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